August marked the fifth consecutive month that New Jersey’s unemployment rate continued its downward trend. The state’s unemployment rate edged lower by 0.1 of a percentage point to 3.2 percent – the lowest monthly rate since state-level records began in 1976 – and remained below the national unemployment rate of 3.7 percent, according to estimates produced by the U.S. Bureau of Labor Statistics.
Total nonfarm wage and salary employment in the state increased by 1,100 to reach a seasonally adjusted level of 4,200,400.
Looking at the longer term, over the year, August 2018 – August 2019, employment in New Jersey was higher by 46,700 jobs, with gains recorded in both the private (+44,000) and public (+2,700) sectors of the New Jersey economy.
In August, employment increases were recorded in four out of nine major private industry sectors. Industry sectors that gained jobs include education and health services (+2,300), other services (+1,500), financial activities (+900), and professional and business services (+300).
Industry sectors that lost jobs include leisure and hospitality (-3,700), information (-1,000), manufacturing (-600), trade, transportation, and utilities (-500), and construction (-400).
Preliminary BLS data for September 2019 will be released on October 17, 2019.